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LemFi, a global financial technology firm specializing in international payment solutions, has secured regulatory approval from the Central Bank of Kenya (CBK) to offer remittance services in the country.
Having ventured into the East African nation in June last year, LemFi views this regulatory nod as a significant milestone in its commitment to facilitating seamless international payments for thousands of Kenyans residing abroad.
This regulatory clearance underscores LemFi’s unwavering dedication to delivering secure and efficient services while adhering to Kenya’s regulatory framework.
With this recent approval for remittance services, LemFi assures its customers of access to the most favorable exchange rates available, aligning with its mission to facilitate hassle-free international payments for the Kenyan diaspora.
Residents in the United Kingdom, the United States of America, and Canada can now transfer funds within minutes directly to M-PESA, Mobile Money, and Bank Accounts, enjoying optimal exchange rates and zero transfer fees.
Of particular note, LemFi’s app features a Kenya Shillings wallet setup, empowering users to fund their accounts seamlessly using mobile money and initiate transactions. Furthermore, users can effortlessly convert their Kenya Shillings into other foreign currencies, including US dollars (USD), British pounds (GBP), and Canadian dollars (CAD), based on their preferences.
LemFi’s approval to operate remittance services in Kenya follows its announcement in February 2024, regarding the resumption of remittance operations in Ghana after obtaining approval from the Bank of Ghana (BoG) in collaboration with select partners.
Established in 2020, LemFi is committed to delivering innovative services and products across various markets through its user-friendly app. Targeting Africa’s diaspora community, the fintech firm aims to revolutionize the international money transfer landscape by offering innovative solutions with zero fees.
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